In China, local governments are cutting back on stationary supplies and monitoring their use of air conditioners. Reports say China faces a nearly $1 trillion funding gap. Molly Gambhir tells you more.

Gravitas: China has a $1 Trillion problem

The British monarchy is caught in another storm, this time it is related to foreign funding involving Prince Charles. Reportedly, the Prince accepted three cash donations between 2011 and 2015.

Anti-monarchy campaign demands probe as Prince Charles received $3.2 million in cash

According to a new report by Oxfam titled 'Footing the bill', the funding needed by the UN Climate Disaster appeals is now eight times higher than what it was 20 years ago but only half of it is being met by rich countries

Funding needed for climate disasters rose by 8 times

Avishkar Hyperloop, a student-led team from India, has secured funding and technical support from a private company to take forth their 'Hyperloop Pod' developmental efforts.

Based at IIT-Madras in Chennai, the team comprises 70 members who belong to as many as 11 diverse Engineering disciplines.

Hyperloop is a futuristic mode of transport that aims to facilitate extremely rapid travel by using specially designed capsules (vehicles or pods) that travel in a vacuum tube, running the entire length between two distant locations. The proposed speed of this hyperloop technology is expected to be well over 1,100Kmph.

IIT-Madras has claimed&nbsp;that the hyperloop model proposed by Team Avishkar can achieve a top speed of over 1,200 kilometres per hour. The institute added that the team is spearheading Hyperloop Tube research in India and has already patented a novel and cost-effective tube design.

The team is also constructing a 500-meter-long hyperloop test facility, which is expected to be completed by the end of 2022 at the Institute's Discovery campus on the outskirts of Chennai.&nbsp;

“The vacuum tube, when developed, will be the first of its kind in academia anywhere globally and would be on par with the test facility of the commercial entity, Virgin Hyperloop One in the US. As such, ours would be the only one of its kind available in public, which we intend to utilise to organise international hyperloop competitions" said Prof. V Kamakoti, Director, IIT Madras.&nbsp;

L&amp;T Technology Services Limited (LTTS) will be offering technical guidance across multiple facets of engineering to the students involved in the project.&nbsp;

Besides taking part in international events and competitions that deal with the research and development of hyperloop pods, the team from IIT-M is also working on incorporating further technological advancements into their existing hyperloop pod prototype.

Avishkar Hyperloop, a student-led team from India, has secured funding and technical support from a private company to take forth their 'Hyperloop Pod' developmental efforts.

Avishkar Hyperloop, a student-led team from India, has secured funding and technical support from a private company to take forth their 'Hyperloop Pod' developmental efforts. Based at IIT-Madras in Chennai, the team comprises 70 members who belong to as many as 11 diverse Engineering disciplines. Hyperloop is a futuristic mode of transport that aims to facilitate extremely rapid travel by using specially designed capsules (vehicles or pods) that travel in a vacuum tube, running the entire length between two distant locations. The proposed speed of this hyperloop technology is expected to be well over 1,100Kmph. IIT-Madras has claimed that the hyperloop model proposed by Team Avishkar can achieve a top speed of over 1,200 kilometres per hour. The institute added that the team is spearheading Hyperloop Tube research in India and has already patented a novel and cost-effective tube design. The team is also constructing a 500-meter-long hyperloop test facility, which is expected to be completed by the end of 2022 at the Institute's Discovery campus on the outskirts of Chennai. “The vacuum tube, when developed, will be the first of its kind in academia anywhere globally and would be on par with the test facility of the commercial entity, Virgin Hyperloop One in the US. As such, ours would be the only one of its kind available in public, which we intend to utilise to organise international hyperloop competitions" said Prof. V Kamakoti, Director, IIT Madras. L&T Technology Services Limited (LTTS) will be offering technical guidance across multiple facets of engineering to the students involved in the project. Besides taking part in international events and competitions that deal with the research and development of hyperloop pods, the team from IIT-M is also working on incorporating further technological advancements into their existing hyperloop pod prototype.

500-meter-long hyperloop test facility to come up in India, IIT-Madras students’ team secures funding

Tougher times are ahead for Indian football team. In what comes as a shocker, the central government has slashed the funding of football by more than 50 per cent (i.e. by 85%).&nbsp;The decision came&nbsp;after the government&nbsp;dubbed the national team’s display as "poor performance" over the last few years.

As a result, a senior AIFF official has lashed out at the new development and rued&nbsp;at the ‘differential treatment’ meted out to the sport, as&nbsp;reported by the Indian Express. “Despite the differential treatment by the government, the AIFF has not compromised on any activity for the senior and junior teams, both men and women. However, it is surprising that a mass sport like football gets less funding compared to other sports that are nowhere close in terms of participation numbers and competitiveness.”

ALSO READ |&nbsp;<a href="https://www.wionews.com/sports/aiff-general-secretary-kushal-das-molested-employees-at-workplace-ranjit-bajaj-makes-big-accusation-473947">AIFF general secretary Kushal Das molested employees at workplace: Ranjit Bajaj makes big accusation</a>

For the unversed, the AIFF officials had reportedly asked for funding at least three times within the sanctioned budget. Much to their dismay,&nbsp;the sports ministry and the Sports Authority of India (SAI) were not satisfied. AIFF’s demands were termed insignificant as the federation’s developmental work has not been deemed to be satisfactory by any means,&nbsp;exposing the inability of age-group teams to make their presence felt at the continental level and a women’s football programme that ‘lacked structure’.&nbsp;

It is to be noted&nbsp;that the funds allocated to football are way less than what has been set aside for other major sports.&nbsp;Athletics (INR 300 million), badminton, boxing, hockey, shooting (INR 240 million each), archery (INR 158.5 crore) and weightlifting (INR 110 million) are way ahead of football in terms of total funding received. To the surprise of many, even sports like tennis and yachting are all set to receive greater funding than football for the current financial year.

The&nbsp;central government’s call has come as a massive blow to the beautiful game amid its rising popularity in India. Over the years, efforts have been made to popularise the game, however, such a dent will act as a severe hit for Indian football across the country. It will be interesting to see if and how&nbsp;some big football names, in India, react to the big development.

Tougher times are ahead for Indian football team. In what comes as a shocker, the central government has slashed the funding of football by more than 50 per cent (i.

Tougher times are ahead for Indian football team. In what comes as a shocker, the central government has slashed the funding of football by more than 50 per cent (i.e. by 85%). The decision came after the government dubbed the national team’s display as "poor performance" over the last few years. As a result, a senior AIFF official has lashed out at the new development and rued at the ‘differential treatment’ meted out to the sport, as reported by the Indian Express. “Despite the differential treatment by the government, the AIFF has not compromised on any activity for the senior and junior teams, both men and women. However, it is surprising that a mass sport like football gets less funding compared to other sports that are nowhere close in terms of participation numbers and competitiveness.” ALSO READ | AIFF general secretary Kushal Das molested employees at workplace: Ranjit Bajaj makes big accusation For the unversed, the AIFF officials had reportedly asked for funding at least three times within the sanctioned budget. Much to their dismay, the sports ministry and the Sports Authority of India (SAI) were not satisfied. AIFF’s demands were termed insignificant as the federation’s developmental work has not been deemed to be satisfactory by any means, exposing the inability of age-group teams to make their presence felt at the continental level and a women’s football programme that ‘lacked structure’. It is to be noted that the funds allocated to football are way less than what has been set aside for other major sports. Athletics (INR 300 million), badminton, boxing, hockey, shooting (INR 240 million each), archery (INR 158.5 crore) and weightlifting (INR 110 million) are way ahead of football in terms of total funding received. To the surprise of many, even sports like tennis and yachting are all set to receive greater funding than football for the current financial year. The central government’s call has come as a massive blow to the beautiful game amid its rising popularity in India. Over the years, efforts have been made to popularise the game, however, such a dent will act as a severe hit for Indian football across the country. It will be interesting to see if and how some big football names, in India, react to the big development.

Indian football in huge crisis! Government slashes funding by almost 85% for AIFF - Report

Last month, SoftBank Group withdrew from a US$34 billion project in Indonesia. After the withdrawal, Indonesia is looking to Saudi Arabia, the United Arab Emirates, crowdfunding for the capital city in Borneo, reported by South China Morning Post last week.&nbsp;

SoftBank's exit was revealed by Luhut Pandjaitan, the Coordinating Minister of Maritime and Investment Affairs. The reports by SCMP mentioned that he cited a "decline in the share price" and Saudi Arabia's withdrawal of funds from the company's venture capital arm Vision Fund 2 as reasons.&nbsp;

But on the contrary, the company's board director Ken Miyauchi in a statement said: "Return of investment, whether from timing or the amount of ROI itself, is the main reason why we were backing out from the project."&nbsp;

The report mentioned that Luhut, who is the right hand of the country's President Joko Widodo, is putting in efforts to seek funds from Saudi Arabia and the United Arab Emirates.&nbsp;

"When I visited Saudi Arabia, Crown Prince Mohammad bin Salman asked to get into [the capital development project]. We are still discussing how big [Saudi Arabia’s] investments will be. We are continuing to have virtual meetings with his team," Luhut told reporters as quoted by SCMP.&nbsp;

Watch |&nbsp;A story of hope: Rare Sumatran rhino born in Indonesia

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/a-story-of-hope-rare-sumatran-rhino-born-in-indonesia-466988/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

(With inputs from agencies)

Last month, SoftBank Group withdrew from a US$34 billion project in Indonesia. After the withdrawal, Indonesia is looking to Saudi Arabia, the United Arab Emirates, crowdfunding for the capital city in Borneo, reported by South China Morning Post last week.

Last month, SoftBank Group withdrew from a US$34 billion project in Indonesia. After the withdrawal, Indonesia is looking to Saudi Arabia, the United Arab Emirates, crowdfunding for the capital city in Borneo, reported by South China Morning Post last week. SoftBank's exit was revealed by Luhut Pandjaitan, the Coordinating Minister of Maritime and Investment Affairs. The reports by SCMP mentioned that he cited a "decline in the share price" and Saudi Arabia's withdrawal of funds from the company's venture capital arm Vision Fund 2 as reasons. But on the contrary, the company's board director Ken Miyauchi in a statement said: "Return of investment, whether from timing or the amount of ROI itself, is the main reason why we were backing out from the project." The report mentioned that Luhut, who is the right hand of the country's President Joko Widodo, is putting in efforts to seek funds from Saudi Arabia and the United Arab Emirates. "When I visited Saudi Arabia, Crown Prince Mohammad bin Salman asked to get into [the capital development project]. We are still discussing how big [Saudi Arabia’s] investments will be. We are continuing to have virtual meetings with his team," Luhut told reporters as quoted by SCMP. Watch | A story of hope: Rare Sumatran rhino born in Indonesia (With inputs from agencies)

Indonesia to seek funds from Saudi Arabia, UAE and crowdfunding after SoftBank's withdrawal

For months, cryptocurrency enthusiasts poured hundreds of millions of dollars into a project called Wonderland, which claimed to provide a system of exchange for the murky world of decentralized finance.

To take part in the project, the investors — who called themselves Frog Nation — entrusted their money to Wonderland’s treasury manager, a crypto developer whom they knew only by the profile name of 0xSifu.

In late January, 0xSifu was revealed to be an alias for Michael Patryn, who had served 18 months in federal prison for fraud. The price of the Wonderland token, $TIME, crashed overnight as Frog Nation’s panicked denizens debated shutting down the project.

“I was like, ‘Oh, man, this is going to get ugly,’” said Brad Nickel, a Wonderland investor in Florida who runs the crypto podcast “Mission: DeFi.” “Immediately, that was a total loss of confidence.”

From its inception, the crypto industry has been built on anonymity. Bitcoin was conceived more than a decade ago by a mysterious figure who went by the pseudonym Satoshi Nakamoto. For years, thieves and drug dealers have used cryptocurrencies to do business in the shadows.

The ability to operate anonymously is a central tenet of crypto technology. All cryptocurrency transactions are recorded on decentralized ledger systems called blockchains, which let users transact namelessly, without registering a bank account or interacting with traditional financial gatekeepers.

Now as crypto transforms into an increasingly mainstream industry, even the ostensibly legitimate actors — startup founders, engineers and investors — insist on anonymity. A growing number of crypto entrepreneurs, many of whom control hundreds of millions of dollars in investor funds, conduct business via mysterious internet avatars scrubbed of identifying information. Some venture capital firms are backing founders without ever learning their real names.

But the near collapse of Wonderland is forcing a reckoning over whether this culture of anonymity undermines accountability and enables fraud. Last month, BuzzFeed News set off a fresh round of debate by identifying two of the pseudonymous founders of Bored Ape Yacht Club, a $2.5 billion collection of non-fungible tokens, the unique digital collectibles known as NFTs.

“This pseudonymous stuff is so dangerous,” said Brian Nguyen, a crypto entrepreneur who used a pseudonym last year before making his identity public. “They could be a good actor today, but they could turn bad in two or three years.”

Nguyen once lost more than $400,000 in a common crypto scam called a rug pull, in which an anonymous developer launches a project, solicits funds from investors and then disappears with the money. Victims of rug pulls are often left with little recourse against nameless thieves.

Still, some of the industry’s most powerful companies have accepted that crypto engineers and startup founders often prefer to operate anonymously. Crypto evangelists argue that this creates a more egalitarian marketplace, in which entrepreneurs are judged on their technical expertise rather than their academic or family backgrounds. The blockchain provides a public record of transactions, allowing savvy observers to gauge the qualifications of a nameless entrepreneur without consulting a résumé.

Amy Wu, who leads the venture arm of the cryptocurrency exchange FTX, said she sometimes collaborated with anonymous investors she met online. One rose to fame running an Elon Musk parody Twitter account that now has nearly 2 million followers.

“I don’t know who he is. I don’t know what company he worked at,” Wu said. “And I don’t need to. I know that he’s an expert in the industry.”

Last year, FTX recruited an influencer with the Twitter pseudonym SolanaLegend to advise corporate clients interested in NFTs. An FTX employee introduced The New York Times to SolanaLegend, who in an interview declined to provide his real name, saying he stays anonymous to protect his safety and privacy. While he divulged his true identity during an initial call with his FTX supervisors, he said, his company email address features his pseudonym, which he chose as a joke.

At work, he makes one exception to the secrecy. On calls with clients, he often uses his actual first name to introduce himself, concerned that traditional business executives may be uncomfortable working with someone known simply as Legend.

Over the last year, the venture capital firm Paradigm has also hired engineers and researchers who operate anonymously; they appear on the company’s staff page under pseudonyms. The most recent hire was a crypto engineer who goes by Transmissions11 and attends high school “in his spare time,” according to his company bio. (Jim Prosser, a Paradigm spokesman, said the employees’ bosses knew their identities.)

In interviews, anonymous crypto entrepreneurs and engineers offered a variety of reasons for concealing their names. Some feared that a regulatory crackdown could put them in the cross hairs of law enforcement. Others said they disliked the attention or worried that their growing wealth could make them targets for thieves and hackers.

The nameless entrepreneurs often take extreme steps to keep their identities private, using voice-altering software on calls or requiring business partners to sign nondisclosure agreements.

Some venture firms are willing to invest in them anyway. Last year, 0xMaki, a developer who helped run the prominent crypto project SushiSwap, raised $60 million from a group of venture investors, including Wu, without disclosing his real name to them. (The deal fell through after members of SushiSwap — a so-called decentralized autonomous organization, or DAO, in which individual investors hold significant sway — raised concerns about the funding.)

Last summer, the anonymous founder of Alchemix, another major crypto project, raised $4.9 million from a group of venture firms led by CMS Holdings. Dan Matuszewski, a founder of CMS, said he never asked the project’s leader, who uses the pseudonym Scoopy Trooples, to reveal his identity.

“A lot of these guys have reputations from over the years,” Matuszewski said. “It doesn’t seem like it makes a ton of sense for them to run off and abscond with the funds.”

But for many people, it can be difficult to evaluate the credentials of an unknown developer operating under a pseudonym. The anonymous founders of a crypto collective called AnubisDAO raised nearly $60 million in a few hours last year; less than a day later, the funds disappeared in the second-largest rug pull of 2021, according to blockchain-tracking firm Chainalysis.

“No one is ultimately auditing,” said Jordi Alexander, chief investment officer at the crypto trading firm Selini Capital. “You have anonymous people on the internet now. Sometimes they end up being scammers.”

These days, crypto entrepreneurs who use their real names sometimes advertise their startups as “fully doxxed,” meaning their backgrounds are public. And founders are finding it harder to keep their identities secret. BuzzFeed analyzed publicly available business records to establish the identities of the Bored Apes founders, Greg Solano and Wylie Aronow. (Neither responded to requests for comment.)

Wonderland was established in September by Daniele Sestagalli, a crypto entrepreneur who managed the project with Patryn, using whimsical imagery from “Alice’s Adventures in Wonderland” to entice investors. In a January blog post, Sestagalli said he had known since December that Patryn was an ex-fraudster but decided not to take action because he believed in “second chances.” (Sestagalli did not respond to requests for comment.)

His investors were not as forgiving. Like SushiSwap, Wonderland is run as a DAO. After a vote in January, Patryn was forced to resign from the project. (He did not respond to emails.) A second referendum calling for Wonderland to shut down was narrowly defeated.

Patryn’s identity may have remained secret if not for the work of an influential crypto sleuth, who tweeted screenshots of a text conversation he had with Sestagalli. In those messages, the Wonderland founder appeared to acknowledge 0xSifu’s real name.

Last month, the sleuth was at it again, tweeting evidence that an anonymous leader of another crypto project had once been fined by the Securities and Exchange Commission.

The sleuth’s name? Unknown. He uses a pseudonym.

For months, cryptocurrency enthusiasts poured hundreds of millions of dollars into a project called Wonderland, which claimed to provide a system of exchange for the murky world of decentralized finance.

For months, cryptocurrency enthusiasts poured hundreds of millions of dollars into a project called Wonderland, which claimed to provide a system of exchange for the murky world of decentralized finance. To take part in the project, the investors — who called themselves Frog Nation — entrusted their money to Wonderland’s treasury manager, a crypto developer whom they knew only by the profile name of 0xSifu. In late January, 0xSifu was revealed to be an alias for Michael Patryn, who had served 18 months in federal prison for fraud. The price of the Wonderland token, $TIME, crashed overnight as Frog Nation’s panicked denizens debated shutting down the project. “I was like, ‘Oh, man, this is going to get ugly,’” said Brad Nickel, a Wonderland investor in Florida who runs the crypto podcast “Mission: DeFi.” “Immediately, that was a total loss of confidence.” From its inception, the crypto industry has been built on anonymity. Bitcoin was conceived more than a decade ago by a mysterious figure who went by the pseudonym Satoshi Nakamoto. For years, thieves and drug dealers have used cryptocurrencies to do business in the shadows. The ability to operate anonymously is a central tenet of crypto technology. All cryptocurrency transactions are recorded on decentralized ledger systems called blockchains, which let users transact namelessly, without registering a bank account or interacting with traditional financial gatekeepers. Now as crypto transforms into an increasingly mainstream industry, even the ostensibly legitimate actors — startup founders, engineers and investors — insist on anonymity. A growing number of crypto entrepreneurs, many of whom control hundreds of millions of dollars in investor funds, conduct business via mysterious internet avatars scrubbed of identifying information. Some venture capital firms are backing founders without ever learning their real names. But the near collapse of Wonderland is forcing a reckoning over whether this culture of anonymity undermines accountability and enables fraud. Last month, BuzzFeed News set off a fresh round of debate by identifying two of the pseudonymous founders of Bored Ape Yacht Club, a $2.5 billion collection of non-fungible tokens, the unique digital collectibles known as NFTs. “This pseudonymous stuff is so dangerous,” said Brian Nguyen, a crypto entrepreneur who used a pseudonym last year before making his identity public. “They could be a good actor today, but they could turn bad in two or three years.” Nguyen once lost more than $400,000 in a common crypto scam called a rug pull, in which an anonymous developer launches a project, solicits funds from investors and then disappears with the money. Victims of rug pulls are often left with little recourse against nameless thieves. Still, some of the industry’s most powerful companies have accepted that crypto engineers and startup founders often prefer to operate anonymously. Crypto evangelists argue that this creates a more egalitarian marketplace, in which entrepreneurs are judged on their technical expertise rather than their academic or family backgrounds. The blockchain provides a public record of transactions, allowing savvy observers to gauge the qualifications of a nameless entrepreneur without consulting a résumé. Amy Wu, who leads the venture arm of the cryptocurrency exchange FTX, said she sometimes collaborated with anonymous investors she met online. One rose to fame running an Elon Musk parody Twitter account that now has nearly 2 million followers. “I don’t know who he is. I don’t know what company he worked at,” Wu said. “And I don’t need to. I know that he’s an expert in the industry.” Last year, FTX recruited an influencer with the Twitter pseudonym SolanaLegend to advise corporate clients interested in NFTs. An FTX employee introduced The New York Times to SolanaLegend, who in an interview declined to provide his real name, saying he stays anonymous to protect his safety and privacy. While he divulged his true identity during an initial call with his FTX supervisors, he said, his company email address features his pseudonym, which he chose as a joke. At work, he makes one exception to the secrecy. On calls with clients, he often uses his actual first name to introduce himself, concerned that traditional business executives may be uncomfortable working with someone known simply as Legend. Over the last year, the venture capital firm Paradigm has also hired engineers and researchers who operate anonymously; they appear on the company’s staff page under pseudonyms. The most recent hire was a crypto engineer who goes by Transmissions11 and attends high school “in his spare time,” according to his company bio. (Jim Prosser, a Paradigm spokesman, said the employees’ bosses knew their identities.) In interviews, anonymous crypto entrepreneurs and engineers offered a variety of reasons for concealing their names. Some feared that a regulatory crackdown could put them in the cross hairs of law enforcement. Others said they disliked the attention or worried that their growing wealth could make them targets for thieves and hackers. The nameless entrepreneurs often take extreme steps to keep their identities private, using voice-altering software on calls or requiring business partners to sign nondisclosure agreements. Some venture firms are willing to invest in them anyway. Last year, 0xMaki, a developer who helped run the prominent crypto project SushiSwap, raised $60 million from a group of venture investors, including Wu, without disclosing his real name to them. (The deal fell through after members of SushiSwap — a so-called decentralized autonomous organization, or DAO, in which individual investors hold significant sway — raised concerns about the funding.) Last summer, the anonymous founder of Alchemix, another major crypto project, raised $4.9 million from a group of venture firms led by CMS Holdings. Dan Matuszewski, a founder of CMS, said he never asked the project’s leader, who uses the pseudonym Scoopy Trooples, to reveal his identity. “A lot of these guys have reputations from over the years,” Matuszewski said. “It doesn’t seem like it makes a ton of sense for them to run off and abscond with the funds.” But for many people, it can be difficult to evaluate the credentials of an unknown developer operating under a pseudonym. The anonymous founders of a crypto collective called AnubisDAO raised nearly $60 million in a few hours last year; less than a day later, the funds disappeared in the second-largest rug pull of 2021, according to blockchain-tracking firm Chainalysis. “No one is ultimately auditing,” said Jordi Alexander, chief investment officer at the crypto trading firm Selini Capital. “You have anonymous people on the internet now. Sometimes they end up being scammers.” These days, crypto entrepreneurs who use their real names sometimes advertise their startups as “fully doxxed,” meaning their backgrounds are public. And founders are finding it harder to keep their identities secret. BuzzFeed analyzed publicly available business records to establish the identities of the Bored Apes founders, Greg Solano and Wylie Aronow. (Neither responded to requests for comment.) Wonderland was established in September by Daniele Sestagalli, a crypto entrepreneur who managed the project with Patryn, using whimsical imagery from “Alice’s Adventures in Wonderland” to entice investors. In a January blog post, Sestagalli said he had known since December that Patryn was an ex-fraudster but decided not to take action because he believed in “second chances.” (Sestagalli did not respond to requests for comment.) His investors were not as forgiving. Like SushiSwap, Wonderland is run as a DAO. After a vote in January, Patryn was forced to resign from the project. (He did not respond to emails.) A second referendum calling for Wonderland to shut down was narrowly defeated. Patryn’s identity may have remained secret if not for the work of an influential crypto sleuth, who tweeted screenshots of a text conversation he had with Sestagalli. In those messages, the Wonderland founder appeared to acknowledge 0xSifu’s real name. Last month, the sleuth was at it again, tweeting evidence that an anonymous leader of another crypto project had once been fined by the Securities and Exchange Commission. The sleuth’s name? Unknown. He uses a pseudonym.

Millions for crypto startups, no real names necessary 

United Kingdom's cut to its aid budget comes to about £4 billion a year. 
Such a massive reduction is a blow to many. However, the most affected will be the local organisations who perpetually find themselves last in line for funding.

A new research by the Vodafone Foundation has revealed that too often, only a small proportion of philanthropic funding earmarked for African development reaches local, African-led civil society organisations. This is because most development funding favours intermediaries in the global north and international organisations.

Fundings that make it to Africa are distributed among locally registered international NGO counterparts. After that, they are allocated to African-led organisations on a project basis.&nbsp;

This limits the scope and flexibility of activities on the ground and promotes aid reliance, instead of durable, transformative change.

<a href="https://www.wionews.com/world/us-and-eu-pledge-30-per-cent-cut-in-methane-emissions-413907">Also read |&nbsp;US and EU pledge 30 per cent cut in methane emissions</a>

In a Guardian report by Kennedy Odede, he said that a year after Geoge Floyd's death, the report on funding is a reminder that the racial bias and microaggressions experienced as an African leader and CEO are deeper, more pernicious and prevalent.

He highlights that racial bias needs to be replaced with trust, redistribution of power, acknowledgement of a global anti-black bias, and flexible funding.

The report talks about how during COVID-19, the power of local actors to effectively respond to the pandemic and protect marginalised communities have failed.

This means, in some ways, COVID-19 has erased the boundaries between humanitarian aid, as it is traditionally known, and long-term development work.

United Kingdom's cut to its aid budget comes to about £4 billion a year. Such a massive reduction is a blow to many. However, the most affected will be the local organisations who perpetually find themselves last in line for funding.

United Kingdom's cut to its aid budget comes to about £4 billion a year. Such a massive reduction is a blow to many. However, the most affected will be the local organisations who perpetually find themselves last in line for funding. A new research by the Vodafone Foundation has revealed that too often, only a small proportion of philanthropic funding earmarked for African development reaches local, African-led civil society organisations. This is because most development funding favours intermediaries in the global north and international organisations. Fundings that make it to Africa are distributed among locally registered international NGO counterparts. After that, they are allocated to African-led organisations on a project basis. This limits the scope and flexibility of activities on the ground and promotes aid reliance, instead of durable, transformative change. Also read | US and EU pledge 30 per cent cut in methane emissions In a Guardian report by Kennedy Odede, he said that a year after Geoge Floyd's death, the report on funding is a reminder that the racial bias and microaggressions experienced as an African leader and CEO are deeper, more pernicious and prevalent. He highlights that racial bias needs to be replaced with trust, redistribution of power, acknowledgement of a global anti-black bias, and flexible funding. The report talks about how during COVID-19, the power of local actors to effectively respond to the pandemic and protect marginalised communities have failed. This means, in some ways, COVID-19 has erased the boundaries between humanitarian aid, as it is traditionally known, and long-term development work.

UK aid cuts make it important to address anti-black bias in funding

A presidential decree published on Saturday added cryptocurrency exchanges to a list of firms covered by Turkey’s terror financing and money laundering.&nbsp;

The move came after a ban on using cryptocurrencies for making payments, which was introduced in response to claims that such transactions are too risky, took effect in Turkey on Friday.&nbsp;

The presidential decree makes 'crypto asset service providers' responsible for seeing their assets are not used illegally. The decree immediately went into force with its publication in Turkey’s Official Gazette.&nbsp;

Turkish authorities last month launched fraud investigations into two cryptocurrency exchanges, Thodex and Vebitcoin. Six suspects linked to the Thodex probe were jailed on Friday pending trial.&nbsp;

The investigation into Thodex, which handled daily trades of hundreds of millions of dollars, initially led to the arrests of 83 people after customers complained of not being able to access their funds. Interpol issued a detention warrant for the firm’s CEO on Turkey’s behalf.&nbsp;

Turks have been increasingly attracted by cryptocurrencies as protection against the decline of the lira and double-digit inflation.&nbsp;

(With inputs from agencies)&nbsp;

A presidential decree published on Saturday added cryptocurrency exchanges to a list of firms covered by Turkey’s terror financing and money laundering. The move came after a ban on using cryptocurrencies for making payments, which was introduced in response to claims that such transactions are too risky, took effect in Turkey on Friday.

A presidential decree published on Saturday added cryptocurrency exchanges to a list of firms covered by Turkey’s terror financing and money laundering. The move came after a ban on using cryptocurrencies for making payments, which was introduced in response to claims that such transactions are too risky, took effect in Turkey on Friday. The presidential decree makes 'crypto asset service providers' responsible for seeing their assets are not used illegally. The decree immediately went into force with its publication in Turkey’s Official Gazette. Turkish authorities last month launched fraud investigations into two cryptocurrency exchanges, Thodex and Vebitcoin. Six suspects linked to the Thodex probe were jailed on Friday pending trial. The investigation into Thodex, which handled daily trades of hundreds of millions of dollars, initially led to the arrests of 83 people after customers complained of not being able to access their funds. Interpol issued a detention warrant for the firm’s CEO on Turkey’s behalf. Turks have been increasingly attracted by cryptocurrencies as protection against the decline of the lira and double-digit inflation. (With inputs from agencies)

Turkey adds cryptocurrency exchanges to terror funding rules 

As the UN urged countries to not pull back funding amid the coronavirus pandemic, UK Prime Minister Boris Johnson has slashed funding for the United Nations sexual and reproductive health agency (UNFPA).

Johnson has decided to impose a huge cut to the funding made to the UN agency that helps women fight against violence and sexual and reproductive problems.

Also read |&nbsp;<a data-ctorig="https://www.wionews.com/world/unease-rising-about-astrazeneca-covid-19-vaccine-in-uk-380960" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/unease-rising-about-astrazeneca-covid-19-vaccine-in-uk-380960&amp;sa=U&amp;ved=2ahUKEwi-862mvKPwAhXXzDgGHcm0DiEQFjACegQIBxAC&amp;usg=AOvVaw2ellHkr3kYJ_gPX0KqKw7f" dir="ltr" href="https://www.wionews.com/world/unease-rising-about-astrazeneca-covid-19-vaccine-in-uk-380960" target="_blank">Unease rising about AstraZeneca COVID-19 vaccine in UK</a>

The UK will be implementing a nearly 85 per cent cut to UNFPA’s flagship programme for family planning. The funding will be slashed from £154 million to £23 million this year.

These cuts have brought a ‘devastating’ effect in the working of the agency’s programmes, the agency authorities said.

"These cuts will be devastating for women and girls and their families across the world," UNFPA said in a statement. "With the now-withdrawn £130 million, the UNFPA Supplies Partnership would have helped prevent around 250,000 maternal and child deaths, 14.6 million unintended pregnancies, and 4.3 million unsafe abortions."

<a href="https://www.wionews.com/videos/gravitas-boris-johnson-let-the-bodies-pile-high-380948">Watch |</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-boris-johnson-let-the-bodies-pile-high-380948/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Boris Johnson, however, has asked people and agencies to ‘understand’ the situation and has blamed the pandemic for fund cuts.

"We are still one of the biggest donors in the world and I think people in this country should be very proud of that," Johnson said. "But I also think that they will understand, and I know that other countries around the world understand, the particular pressures of the pandemic that means we have to economise in that way."

Responding to Johnson'&nbsp;statement, UNFPA said that while it understands "the challenging situation facing many donor governments", the agency is also "deeply regrets the decision of our longstanding partner".

"The truth is that when funding stops, women and girls suffer, especially the poor, those living in remote, underserved communities and those living through humanitarian crises," UNFPA said.

(With inputs from agencies)

As the UN urged countries to not pull back funding amid the coronavirus pandemic, UK Prime Minister Boris Johnson has slashed funding for the United Nations sexual and reproductive health agency (UNFPA).

As the UN urged countries to not pull back funding amid the coronavirus pandemic, UK Prime Minister Boris Johnson has slashed funding for the United Nations sexual and reproductive health agency (UNFPA). Johnson has decided to impose a huge cut to the funding made to the UN agency that helps women fight against violence and sexual and reproductive problems. Also read | Unease rising about AstraZeneca COVID-19 vaccine in UK The UK will be implementing a nearly 85 per cent cut to UNFPA’s flagship programme for family planning. The funding will be slashed from £154 million to £23 million this year. These cuts have brought a ‘devastating’ effect in the working of the agency’s programmes, the agency authorities said. "These cuts will be devastating for women and girls and their families across the world," UNFPA said in a statement. "With the now-withdrawn £130 million, the UNFPA Supplies Partnership would have helped prevent around 250,000 maternal and child deaths, 14.6 million unintended pregnancies, and 4.3 million unsafe abortions." Watch | Boris Johnson, however, has asked people and agencies to ‘understand’ the situation and has blamed the pandemic for fund cuts. "We are still one of the biggest donors in the world and I think people in this country should be very proud of that," Johnson said. "But I also think that they will understand, and I know that other countries around the world understand, the particular pressures of the pandemic that means we have to economise in that way." Responding to Johnson' statement, UNFPA said that while it understands "the challenging situation facing many donor governments", the agency is also "deeply regrets the decision of our longstanding partner". "The truth is that when funding stops, women and girls suffer, especially the poor, those living in remote, underserved communities and those living through humanitarian crises," UNFPA said. (With inputs from agencies)

As UN agency laments aid fund cuts, UK PM Boris Johnson pleads people to 'understand'

Cambodia has razed a US-funded defence facility on its southern coast, the deputy prime minister confirmed Sunday, the latest move in the ongoing controversial expansion of a strategically crucial naval base being developed with Chinese aid.

The Wall Street Journal reported last year on a secret draft deal allowing China to dock warships at the Ream naval base near the kingdom's coastal city of Sihanoukville.&nbsp;

But Cambodia — awash in recent years with Chinese investments — has strenuously denied the report, although strongman premier Hun Sen has said aid from Beijing will fund the naval base's development.&nbsp;

Satellite images released by the Center for Strategic and International Studies this week showed a US-funded facility on Ream's naval base had been demolished, raising questions "about rumoured Chinese access", said the Washington-based think tank.&nbsp;

But Tea Banh, Cambodia's deputy prime minister and defence minister, dismissed concerns Sunday.&nbsp;

"We relocated the facility to a new spot. We cannot keep it anymore and the building is already old," he told AFP, confirming that it was knocked down last month.&nbsp;

The Tactical Headquarters of the National Committee for Maritime Security was inaugurated in 2012.&nbsp;

It will be "far better" in its new location, Tea Banh said, adding that Cambodia used "only a small assistance" from the US for the now-demolished building.

The new facility is currently under construction about 30 kilometres (18 miles) north of Ream.&nbsp;

The Ream base has generated scrutiny for its strategic location in the Gulf of Thailand, which would provide ready access to the fiercely contested South China Sea — a key global shipping route.

Beijing claims the majority of the resource-rich sea, vying with six other countries.

Hun Sen has repeatedly insisted Cambodia's constitution forbids any foreign military base within its borders.&nbsp;

Analysts say the wily premier is deeply attuned to the potential for an anti-China backlash from the public -- especially in Sihanoukville, where businesses and casinos are largely now Chinese-owned.&nbsp;

One of the world's longest-serving leaders, Hun Sen has in recent years tilted away from the US due to Washington's criticism of his government's alleged abuses.&nbsp;

On Saturday night, he issued a public letter wishing US President&nbsp;<a href="https://www.wionews.com/topics/donald-trump">Donald Trump</a> a "speedy recovery" from the coronavirus.&nbsp;

Cambodia has razed a US-funded defence facility on its southern coast, the deputy prime minister confirmed Sunday, the latest move in the ongoing controversial expansion of a strategically crucial naval base being developed with Chinese aid.

Cambodia has razed a US-funded defence facility on its southern coast, the deputy prime minister confirmed Sunday, the latest move in the ongoing controversial expansion of a strategically crucial naval base being developed with Chinese aid. The Wall Street Journal reported last year on a secret draft deal allowing China to dock warships at the Ream naval base near the kingdom's coastal city of Sihanoukville. But Cambodia — awash in recent years with Chinese investments — has strenuously denied the report, although strongman premier Hun Sen has said aid from Beijing will fund the naval base's development. Satellite images released by the Center for Strategic and International Studies this week showed a US-funded facility on Ream's naval base had been demolished, raising questions "about rumoured Chinese access", said the Washington-based think tank. But Tea Banh, Cambodia's deputy prime minister and defence minister, dismissed concerns Sunday. "We relocated the facility to a new spot. We cannot keep it anymore and the building is already old," he told AFP, confirming that it was knocked down last month. The Tactical Headquarters of the National Committee for Maritime Security was inaugurated in 2012. It will be "far better" in its new location, Tea Banh said, adding that Cambodia used "only a small assistance" from the US for the now-demolished building. The new facility is currently under construction about 30 kilometres (18 miles) north of Ream. The Ream base has generated scrutiny for its strategic location in the Gulf of Thailand, which would provide ready access to the fiercely contested South China Sea — a key global shipping route. Beijing claims the majority of the resource-rich sea, vying with six other countries. Hun Sen has repeatedly insisted Cambodia's constitution forbids any foreign military base within its borders. Analysts say the wily premier is deeply attuned to the potential for an anti-China backlash from the public -- especially in Sihanoukville, where businesses and casinos are largely now Chinese-owned. One of the world's longest-serving leaders, Hun Sen has in recent years tilted away from the US due to Washington's criticism of his government's alleged abuses. On Saturday night, he issued a public letter wishing US President Donald Trump a "speedy recovery" from the coronavirus.

Cambodia confirms US-funded defence facility has been razed

China-Pakistan Economic Corridor (CPEC), the multi-billion-dollar bilateral infrastructure between Pakistan & China has reportedly hits snacks. Apparently Chinese banks wary of continuosly funding Pakistan's projects.

CPEC Project: Chinese banks wary of continuously funding Pak projects

According to the media report, India has directed the US government's health agency CDC to stop funding research in India without government approval.

India stops US Nipah project with lab

<a href="https://www.wionews.com/world/choose-hope-or-climate-surrender-says-un-chief-265756">Climate change</a> is harming human health as more people suffer from heat stress, extreme weather and mosquito-borne diseases including malaria, the World Health Organisation (WHO) said on Tuesday.

The UN&nbsp;agency, in a report, issued a day after a climate summit began in Madrid, urged governments to meet ambitious targets to reduce heat-trapping carbon emissions saying it could save a million lives a year through lower air pollution alone.

"Health is paying the price of the climate crisis. Why? Because our lungs, our brains, our cardiovascular system is very much suffering from the causes of climate change which are overlapping very much with the causes of air pollution," Maria Neira, Director of WHO's Department of Environment, Climate Change and Health, told a news briefing.

Yet less than 1 per cent&nbsp;of international financing for climate action goes to the health sector, she said, calling it "absolutely outrageous".

Global temperatures could rise sharply this century with "wide-ranging and destructive" consequences after greenhouse gas emissions hit record levels last year, international climate experts warned last week.

Watch: Climate change 'tipping points'

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-climate-change-tipping-points-265326/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"WHO considers that climate change is potentially the greatest health threat of the 21st Century," said WHO expert Diarmid Campbell-Lendrum.

"The reason for that is that unless we cut our carbon emissions, then we will continue to undermine our food supplies, our water supplies and our air quality - everything that we need to maintain the good health of our populations," he said.

The same sources cause <a href="https://www.wionews.com/world/urge-for-climate-change-spreads-like-wildfire-across-the-globe-265246">air pollution and climate change</a>, Campbell-Lendrum said, adding: "So about two-thirds of the exposure to outdoor air pollution is from burning of fossil fuels."

"WHO estimates that over 7 million people a year die from indoor and outdoor air pollution. That is where the big win is," he said.

Some 101 countries responded to WHO's survey about the risks from climate change, but not big players including India and the United States.

"Over two-thirds have assessed that they have increased risks from heat stress, from injury and death from extreme weather, from food, water and vector-borne diseases and those range from everything from cholera to malaria," Campbell-Lendrum said.

Climate change is harming human health as more people suffer from heat stress, extreme weather and mosquito-borne diseases including malaria, the World Health Organisation (WHO) said on Tuesday.

Climate change is harming human health as more people suffer from heat stress, extreme weather and mosquito-borne diseases including malaria, the World Health Organisation (WHO) said on Tuesday. The UN agency, in a report, issued a day after a climate summit began in Madrid, urged governments to meet ambitious targets to reduce heat-trapping carbon emissions saying it could save a million lives a year through lower air pollution alone. "Health is paying the price of the climate crisis. Why? Because our lungs, our brains, our cardiovascular system is very much suffering from the causes of climate change which are overlapping very much with the causes of air pollution," Maria Neira, Director of WHO's Department of Environment, Climate Change and Health, told a news briefing. Yet less than 1 per cent of international financing for climate action goes to the health sector, she said, calling it "absolutely outrageous". Global temperatures could rise sharply this century with "wide-ranging and destructive" consequences after greenhouse gas emissions hit record levels last year, international climate experts warned last week. Watch: Climate change 'tipping points' "WHO considers that climate change is potentially the greatest health threat of the 21st Century," said WHO expert Diarmid Campbell-Lendrum. "The reason for that is that unless we cut our carbon emissions, then we will continue to undermine our food supplies, our water supplies and our air quality - everything that we need to maintain the good health of our populations," he said. The same sources cause air pollution and climate change, Campbell-Lendrum said, adding: "So about two-thirds of the exposure to outdoor air pollution is from burning of fossil fuels." "WHO estimates that over 7 million people a year die from indoor and outdoor air pollution. That is where the big win is," he said. Some 101 countries responded to WHO's survey about the risks from climate change, but not big players including India and the United States. "Over two-thirds have assessed that they have increased risks from heat stress, from injury and death from extreme weather, from food, water and vector-borne diseases and those range from everything from cholera to malaria," Campbell-Lendrum said.

Climate change has ill-effects on health, but not enough funding: World Health Organisation

China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States.

China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States. The People's Bank of China (PBOC) said it will improve the mechanism used to establish the loan prime rate (LPR) from this month, in a move to further lower real interest rates for companies as part of broader market reforms. Analysts say the move, which came after data that showed weaker than expected growth in July and followed a cabinet announcement on Friday, underscores the government's attempts to use reforms to support a slowing economy. "By reforming and improving the formation mechanism of LPR, we will be able to use market-based reform methods to help lower real lending rates," the PBOC said in a statement published on its website. The central bank will "deepen market-based interest rate reform, improve the efficiency of interest rate transmission, and lower financing costs of the real economy," it said. Chinese banks' new LPR quotations will be based on rates of open market operations, and the national interbank funding centre will be authorised to publish the rate from August 20, the PBOC said. It added the rate will be published every month on the 20th, effective this month. Banks must set rates on new loans by mainly referring to the LPR and use LPR as the benchmark for setting floating lending rates, the PBOC said, adding that banks will be barred from setting any implicit floor on lending rates in a coordinated way. The central bank said five-year and longer tenors will be added to the existing one-year LPR, which will help banks set rates on long-term loans such as mortgages. China will add eight small banks, including two foreign-funded banks, to the existing 10 nation-wide banks that will be allowed to submit LPR quotations, the central bank said. The move followed pledges from China's State Council on Friday that the country will rely on market-based reform measures to help lower real interest rates for companies. The central bank said that it will strengthen its supervision on banks' rate quotations and punish banks for irregularities that disrupt the market order. The central bank will incorporate the LPR application into its macro-prudential assessment (MPA) to urge banks to use LPR pricing. SHARPER SLOWDOWN This week's data broadly showed China's economy stumbled more sharply than expected at the start of the third quarter, as the intensifying trade war with the United States took a heavier toll on businesses and consumers. Second-quarter economic growth slowed to a near 30-year low. Tang Jianwei, an economist at Bank of Communications in Shanghai, said the reform could be seen as a guided rate cut as PBOC can guide rates of its open market operations, which will be closely followed by the LPR. "The tool (LPR quotation reform) equals to a guided rate cut, and is only pushed out by the PBOC at crucial moments," said Dai Zhifeng, an analyst with Zhongtai Securities Co. The central bank has pledged to gradually unify two interest rate "tracks" - its market-based rates developed in recent years and its benchmark bank deposit and lending rates. Analysts say the new LPR rate will be lower than the current level, but they are divided over the scope of reductions on borrowing costs for firms. To free up funds for lending and to accommodate local government project financing, most analysts still expect the central bank will cut banks' reserve requirement ratios (RRR) further in the coming months, on top of six reductions since early 2018. Sources have told Reuters that more aggressive action such as interest rate cuts are a last resort, as it could fuel a sharper build-up in debt. In July, central bank head Yi Gang said China would keep its benchmark deposit rate for a relatively long time but would phase out its benchmark lending rate in the push to unify the benchmark lending rate and market-based rates. China's banks currently price their loans based on the benchmark lending rate that has been kept unchanged since October 2015, hampering the central bank's efforts to lower borrowing costs. The PBOC launched the LPR in 2013 to reflect rates that banks charge their best clients. But the LPR has been reacting little to market demand and supply, with the one-year rate currently at 4.31 per cent, versus benchmark one-year lending rate of 4.35 per cent. China's short-term money market rates have been falling more quickly in recent months due to the central bank's cash injections.

China unveils rate reform to steer funding costs lower for firms

Australia&#39;s wealthy Prime Minister Malcolm Turnbull reportedly made a large personal donation to the conservative Liberal Party during the recent fiercely fought election in a move ridiculed by the Labor opposition. 
 
The multi-millionaire, whose Liberal/National coalition was narrowly re-elected, handed over US$760,000 (Aus$1 million) of his own money in the final weeks of the campaign with the party &quot;desperate for finances&quot;, The Australian newspaper said today. 
 
The party did not deny the alleged bail-out but said in a statement that &quot;the claim in todays Australian that the Liberal Party is either in debt or broke is false&quot;. 
 
The newspaper said the money was a &quot;tightly kept secret&quot; and was used to fund television advertising, direct mail-outs and opinion polls. 
 
The donation was mocked by senior opposition Labor politician Anthony Albanese, who told broadcaster Channel Nine: &quot;I wish we had someone who had a lazy Aus$1 million sitting in the corner that could just plonk into the campaign&quot;. 
 
Labor relies on donations and affiliation fees from trade unions for much of its funding. 
 
Turnbull is reportedly worth Aus$200 million through his previous careers as a barrister, businessman and investment banker. 
 
Under Australian law, political parties receive public funding according to how well they perform in an election. 
 
The funding, which is received after the polls, is usually insufficient to pay for campaigns, with parties having to approach donors - individuals and companies - to boost their kitty. 
 
All donations above Aus$13,000 at the national level have to be disclosed, with the latest contributions to be revealed in 2017. 
 
The Liberal Party`s New South Wales branch had Aus$4.4 million withheld from its coffers earlier this year by the electoral commission over its failure to disclose the identity of major donors in 2011 state elections. 
 
(AFP)

Turnbull had donated $760,000 in the final weeks of campaign to help with the finances. The Liberal party did not deny the bailout

Australia's wealthy Prime Minister Malcolm Turnbull reportedly made a large personal donation to the conservative Liberal Party during the recent fiercely fought election in a move ridiculed by the Labor opposition. The multi-millionaire, whose Liberal/National coalition was narrowly re-elected, handed over US$760,000 (Aus$1 million) of his own money in the final weeks of the campaign with the party "desperate for finances", The Australian newspaper said today. The party did not deny the alleged bail-out but said in a statement that "the claim in todays Australian that the Liberal Party is either in debt or broke is false". The newspaper said the money was a "tightly kept secret" and was used to fund television advertising, direct mail-outs and opinion polls. The donation was mocked by senior opposition Labor politician Anthony Albanese, who told broadcaster Channel Nine: "I wish we had someone who had a lazy Aus$1 million sitting in the corner that could just plonk into the campaign". Labor relies on donations and affiliation fees from trade unions for much of its funding. Turnbull is reportedly worth Aus$200 million through his previous careers as a barrister, businessman and investment banker. Under Australian law, political parties receive public funding according to how well they perform in an election. The funding, which is received after the polls, is usually insufficient to pay for campaigns, with parties having to approach donors - individuals and companies - to boost their kitty. All donations above Aus$13,000 at the national level have to be disclosed, with the latest contributions to be revealed in 2017. The Liberal Party`s New South Wales branch had Aus$4.4 million withheld from its coffers earlier this year by the electoral commission over its failure to disclose the identity of major donors in 2011 state elections. (AFP)

Australia PM donated hundreds of dollars to party's election bid

Brazil&#39;s interim President Michel Temer dismissed graft allegations against him as dishonest and reckless, pledging in a national address on Thursday that his government would not be distracted from fiscal reforms aimed at reviving the economy. 
 
Temer said it was &quot;irresponsible, ridiculous, mendacious and criminal&quot; to suggest, as former Petrobras executive Sergio Machado did in plea bargain testimony, that he had sought campaign funds for his party from a graft scheme at the state-run oil company. 
 
The testimony, made public by the Supreme Court on Wednesday, was the first direct link between Temer and the sweeping corruption probe that has thrown Brazil&#39;s politics into chaos and deepened its worst recession in decades. 
 
&quot;I say it again, when an idea as flippant as this comes out, it embarrasses or can embarrass the government&#39;s activity. But I want to say here, to register, loud and clear, nothing will embarrass our intentions, our mission, our task during the period in which I am in front of the presidency of the republic, with an extraordinary economic team, with a foreign affairs team which is equally as extraordinary, and a very adequate ministry. Nothing will impede us from continuing to work for the good of Brazil and the Brazilian people,&quot; said Temer in Brasilia on Thursday. 
 
The highly charged plea bargain implicating Temer and two dozen other elected officials, many of them senior members of his ruling coalition, stole the thunder from a landmark fiscal reform revealed the same day. 
 
Machado&#39;s plea deal included allegations that Temer had sought campaign funds for his party&#39;s 2012 Sao Paulo mayoral candidate from the graft scheme at Petrobras, the biggest ever uncovered in Brazil. 
 
The accusations provide more fodder for suspended President Dilma Rousseff and her allies, who accuse Temer and his party of&nbsp;&nbsp;mounting the impeachment process against her in order to distract from their own roles in the corruption scandal. Rousseff faces a trial in the Senate on unrelated charges of breaking budget rules. 
 
(Reuters)

The testimony by Petrobras executive Sergio Machado has thrown Brazil's politics into chaos and deepened its worst recession in decades

Brazil's interim President Michel Temer dismissed graft allegations against him as dishonest and reckless, pledging in a national address on Thursday that his government would not be distracted from fiscal reforms aimed at reviving the economy. Temer said it was "irresponsible, ridiculous, mendacious and criminal" to suggest, as former Petrobras executive Sergio Machado did in plea bargain testimony, that he had sought campaign funds for his party from a graft scheme at the state-run oil company. The testimony, made public by the Supreme Court on Wednesday, was the first direct link between Temer and the sweeping corruption probe that has thrown Brazil's politics into chaos and deepened its worst recession in decades. "I say it again, when an idea as flippant as this comes out, it embarrasses or can embarrass the government's activity. But I want to say here, to register, loud and clear, nothing will embarrass our intentions, our mission, our task during the period in which I am in front of the presidency of the republic, with an extraordinary economic team, with a foreign affairs team which is equally as extraordinary, and a very adequate ministry. Nothing will impede us from continuing to work for the good of Brazil and the Brazilian people," said Temer in Brasilia on Thursday. The highly charged plea bargain implicating Temer and two dozen other elected officials, many of them senior members of his ruling coalition, stole the thunder from a landmark fiscal reform revealed the same day. Machado's plea deal included allegations that Temer had sought campaign funds for his party's 2012 Sao Paulo mayoral candidate from the graft scheme at Petrobras, the biggest ever uncovered in Brazil. The accusations provide more fodder for suspended President Dilma Rousseff and her allies, who accuse Temer and his party of mounting the impeachment process against her in order to distract from their own roles in the corruption scandal. Rousseff faces a trial in the Senate on unrelated charges of breaking budget rules. (Reuters)

Brazil's Temer denies alleged link to Petrobras scandal

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